COMPASS is the #1 Brokerage in USA for Closed Sales Volume!

I am so excited to be part of such a dynamic brokerage and am pleased to share that as of the end of 2021, COMPASS is now the largest brokerage in the United States in terms of closed sales volume (RealTrends 3/16/22). This is pretty remarkable considering we were a start-up 10 years ago and now we’re number 1!

What This Means For You?

I am proud to be a part of the largest brokerage in the U.S. where I can best support you! Powered by the COMPASS network and its technology, I have access to the top agents nationwide and can help you with all of your real estate needs.

In this challenging real estate market, my agent referral network can help you make your next move with confidence. I know a lot of you are thinking of selling, but not sure where to go. This “chicken and egg” phenomenon requires a skilled, seasoned agent to help you navigate it successfully. There are a number of COMPASS initiatives available, which will help sellers be in the best position possible to navigate their property sale and what they’ll do next.

I can confidently say our referral network is officially the best in the United States. Almost anywhere you are considering moving, COMPASS has a highly talented, high integrity, well-respected and hardworking agent I can refer you to.

If you’re interested in learning more about how I can help you capitalize on this hot real estate market, let’s set up a time to connect. And don’t hesitate to reach out if you have any other questions. 203-856-5534 or karla.murtaugh@compass.com. Together, we will MOVE YOU!

Embrace The Green!

St. Patrick’s Day is next week! And while you’re getting your green on and planning for this fun holiday, don’t forget to exercise your green thumb. Plants and shrubs could be looking a little overgrown by this time of year, so spend a little time sprucing things up.

Especially if you’re planning to list your home for sale, don’t underestimate the power of curb appeal. Sasha at Greenway Landscaping is a great resource if you’d like to invest in an expert opinion on how to cut back your plants. Or head to Ridgefield Hardware which has plenty of chemical-free products to choose from.

If you prefer a more natural approach to your lawn, you may enjoy this terrific piece in 068 Magazine about the “Pollinator Pathway”: https://068magazine.com/068-feature-benefits-of-a-natural-back-yard-march-april/

In this article, Sarah Breznen, Director of Education at the Woodcock Nature Center, stresses the importance of researching specific native plants. “The pollinator pathway is a great resource, and I would always urge everyone to go on there because they have a list of plants, what habitat they’re good for, when they bloom, what host species use them,” says Breznen. “So, they can kind of pick what would be most beneficial for their backyard.”

David McCarthy, Executive Director of the Wilton Land Conservation Trust, is another supporter of chemical-free yards. “An organic lawn is something that’s more sustainable over the long term,” explains McCarthy. “When you introduce things like pesticides, herbicides, and you’re spreading those around you are basically creating a dead zone.”

Also, don’t forget to clean your gutters out after the winter! Clogged gutters can be a major cause of spring flooding in homes, and it’s imperative to keep your basement dry.

Enjoy celebrating the return of the sun with some green beer and green lawns! Wishing everyone a very happy St. Patrick’s Day!

Ridgefield Market Continues To Out Perform

Overall, Ridgefield single family homes sales in February were reduced compared to 2020 and 2021 due to a lack of inventory. Only 12 homes sold this past month, with a Median Sales Price of $646,000 and an Average Sales Price of $796,875. However, it is important to evaluate these numbers as part of a bigger picture, and not in a bubble. In reality, there are plenty of qualified buyers still looking to purchase, but there is a relatively small selection of homes for them to choose from!

When comparing year-to-date sales, a picture emerges reflecting a strong market with all the markings of an exceptional year if sellers choose to list their homes for sale.  The Median Days On Market for January and February 2022 was 62 days compared to 65 in 2021, 105 in 2020 and 79 in 2019. In general, homes are spending almost no time on market, often selling with multiple offers within the first few days. The Sales to List Price Ratio reflects this trend with the current ratio sitting at 100.7%, while 2021 was 99.4%, 2020 at 95.5%, and 2019 at 94.3%.  Again, inventory is the biggest challenge. Currently there are only 3 months of inventory on the market, compared to 3 months in 2021, 10 months in 2020 and 14 months in 2019!

Pricing is also interesting due to this lack of inventory. There were many more sales in lower price points than in the luxury market, resulting in January and February 2022 showing large price decreases from both 2021 and 2020. The Median Sales Price YTD is $723,750, a 15% decrease from 2021, but a 32% increase from pre-pandemic 2019 values.  The Average Sales Price tells a similar story decreasing 10% from 2021 to $829,143 but remaining 12% higher than prices in 2019. Perhaps the biggest decrease is seen in the 34% drop in the number of homes sold when compared to the same time in 2021, but a 55% increase over 2019.

The overarching message here is that the Ridgefield real estate market is extremely healthy and is simply waiting for an influx of properties to be listed. Spring is traditionally the strongest time to list a home for sale and we are seeing an uptick in interest from potential sellers here and in surrounding lower Fairfield County towns. In my expert opinion there is no time better than the present to sell your home.

If you would like to have a more in-depth conversation about your home’s value, connect with us today. Karla Murtaugh 203-856-5534 or karla.murtaugh@compass.com.